I received a call from Chairman Im Jin-yong.
[First, I will return to Korea.]
“Didn’t you say you were going to Europe?”
He was scheduled to et with European pension fund representatives, major shareholders of Seosung Electronics, to persuade them about the share swap with CarOS.
[That’s no longer necessary.]
“Why is that?”
Chairman Im Jin-yong spoke with a hint of laughter in his voice.
[You’ll find out soon. Then, see you in Korea.]
Even before a day passed, I understood what he ant.
Seosung Electronics announced that it had signed a contract to sell 2% common stock and 8% preferred stock to Berkshire Hathaway via a block deal.
***
Throughout the history of finance, nurous investors have battled against the market and yield rates. Those who achieved significant victories among them beca great investors.
When asked who history’s greatest investor is, opinions may vary, but if asked who the greatest active investor is today, everyone would point to Warren Buffett.
Showing exceptional talent for investing since childhood, Warren Buffett acquired a textile company called Berkshire Hathaway in his thirties and grew it into a holding company by purchasing stakes in nurous companies across IT, finance, insurance, and manufacturing.
Now, decades later, Berkshire Hathaway ranks sixth in market capitalization in the U.S., with a market value approaching $500 billion.
Ellie said with amazent, “I never thought Warren Buffett would invest in Seosung Electronics.”
“Indeed.”
With 2% common stock and 8% preferred stock, that exceeds 8 trillion won.
Could he have made that decision in such a short ti? Or were discussions already underway before?
Even after the announcent of the share swap with CarOS, Chairman Im Jin-yong continued to face pressure to buy back so of the company’s shares. However, the block deal with Berkshire Hathaway was a positive developnt surpassing the buyback.
The exact sale amount was not disclosed, but it was clear it exceeded market prices.
Above all, the fact that Warren Buffett, known as a genius investor, was investing guaranteed the growth of Seosung Electronics.
Seosung Electronics announced that all proceeds from its stock sales would be invested in the autonomous driving sector, and Warren Buffett sent a letter to shareholders explaining the reason for his investnt.
(CarOS) is currently in mass production of autonomous vehicles and preparing to enter the electric vehicle market. Starting next year, when the electric vehicle and battery plants under construction in the Rust Belt are completed, it will begin full-scale electric vehicle production.
Unfortunately, CarOS is a private company, and since OTK Company holds most of its shares, it’s difficult to purchase stock directly.
However, Seosung Electronics currently owns 10.5% of CarOS shares and has the right to exchange an additional 14% share. They are also CarOS’s most important partner in the autonomous and electric vehicle fields.
The biggest beneficiary of CarOS’s growth will be Seosung Electronics. Therefore, they plan to increase their share of Seosung Electronics whenever opportunities arise.
The speaker’s position is as important as the content of their words.
The weight of the sa words varies depending on the person’s status. The term “appeal to authority” exists for a reason.
Warren Buffett’s remarks had a greater aftershock than a technology presentation.
***
Currently, there are a total of 20 companies with autonomous driving permits in California, but only about 10 of them are actually conducting test drives.
Previously, many companies were in fierce competition for the lead, but now CarOS has surged to first place and is pulling away, leaving the rest of the companies lagging in second place.
Shares of autonomous driving developnt companies and automotive stocks have all fallen.
Particularly, Nikola has been hit the hardest. Nikola’s stock plumted by an astonishing 5.5% in just one day, erasing over $3 billion in market capitalization.
Nikola was once regarded as an innovative car company not only for its electric vehicle technology but also due to its autonomous driving technology, Autopilot, despite previous incidents leading to fatalities.
However, now strong competitors have erged in both fields.
In contrast, after Warren Buffett’s investnt announcent, Seosung Electronics’ stock rose nearly 6%, increasing its market cap to 320 trillion won. Related companies, including Seosung SB and CarOS’ partners, also saw their stock prices rise.
CarOS has been inundated with calls expressing interest in investnt or collaboration. Dealers who had previously turned their backs are reaching out again, expressing a desire to sell new cars, even without raising margins.
Derry has clarified that aside from existing partnerships, there are no new suppliers on the horizon.
***
I t with Milo Freeman, the CEO of M Pizza, in a hotel eting room.
“It’s been a while. Have you been well?”
“Of course.”
M Pizza is expanding beyond San Francisco and California, receiving praise as the most innovative pizza company, reaching the entire East Coast.
Since Ellie was also with us during the initial investnt, we recognized each other.
“I read your article and learned you were here. You could have reached out when you ca to Silicon Valley.”
“I didn’t want to be a bother.”
How burdenso it must be for a major shareholder to drop in for no apparent reason!
As soon as we sat down, Milo quickly stated his reason for being there.
Technological developnt significantly impacts its delivery system. Many companies are already testing deliveries using autonomous driving and drones.
The key difference between M Pizza and other pizzerias is that it bakes pizzas inside the truck during deliveries.
Even with autonomous driving, at least one person must be in the car, but they can handle other tasks while the car is moving. In the long term, an unmanned delivery system could be created.
The developnt costs are significant, so it’s unrealistic to jump into new car developnt imdiately. However, it might be feasible to modify existing trucks to install autonomous driving modules, just like when creating experintal vehicles.
“I’ll make sure to inform CEO Daryl so we can collaborate on that issue.”
Milo’s expression brightened at my words.
“Thank you.”
Once Milo left, two young white n ca to see . One was a small man with curly blond hair and glasses, and the other was a chubby man with a bushy brown beard.
They were none other than Toby Strong and Gerard Bacon, co-founders of Faceit.
“Long ti no see.”
“Good to see you.”
Toby looked even thinner, while Gerard appeared to have gained weight.
When I first t them, they seed like typical Western otaku, but now they felt like successful Western otaku.
It might seem similar, but there’s a subtle difference.
According to recent news, both are living a movie-like life, freely dating adult film actresses, earning them the nicknas of the second Larry Flynt or Hugh Hefner, making them the envy of many Arican n.
Ellie whispered to , “You’re not envious, are you, Jin-hoo?”
“…No way.”
Even if I were envious, I shouldn’t admit it, right?
Faceit expanded into internet broadcasting based on profits from their video service. They gained massive popularity by creating channels to interact with fans featuring famous adult film actors.
If this were done in Korea, the site would be shut down, and the operators arrested. But in Arica, since porn is legal, there’s no issue.
They were also busily collaborating with existing porn production companies to create VR porn.
When I first t them, they confidently claid they would reach the top of the porn industry. Now, two years later, that claim has beco a reality.
Gerard opened his mouth first.
“I saw the presentation on autonomous driving technology. It’s said that drivers can engage in various activities instead of driving, but what exactly will they do in the car?”
Toby chid in excitedly.
“Won’t they obviously watch porn? We’ve entered an era where you can watch porn in your car!”
“Excuse ?”
“How about when releasing a car, we include a porn edition with new porn content?”
“…”
What is this nonsense?
“A car isn’t a completely enclosed space, so watching porn wouldn’t be appropriate. Plus, porn isn’t just sothing you watch!”
At that, Ellie cocked her head.
“If it’s not just watching, then what?”
Toby replied as if it were obvious.
“Usually, you do sothing else.”
Ellie looked at with innocent eyes.
“What do you an?”
“That’s…”
How do I explain this?
In that mont, I was at a loss for words, and Ellie clapped her hands as if she understood.
“Ah! Could it be ‘mastur’…?”
I quickly interjected.
“Stop right there! No need to say any more.”
Ellie playfully said,
“Oh, co on, why are you being so shy?”
It seems like you might be teasing .
Perhaps it’s because I heard that it’s not possible, but unlike before, both of them have somber expressions. They must have rushed over here excitedly, so it’s understandable.
I said to them,
“I can’t provide pornography directly, but there’s a way to utilize FaceIt’s technology.”
Toby asked,
“What is it?”
FaceIt’s strength lies not in the variety of pornography but in its sophisticated recomndation algorithm. Subscribers willingly open their wallets because they can easily find pornography that suits their tastes.
The algorithm that FaceIt possesses could definitely be applicable to car infotainnt as well.
According to current law, watching videos while driving is prohibited. Therefore, car infotainnt typically involves only listening to music or radio.
However, if regulations change, it will be possible to watch news, movies, or even play gas, significantly expanding the market.
“Right now, it’s not possible due to regulations, but in the future, there will be a need for content that can be enjoyed in the car. There will be many differences between watching content while lying at ho and consuming it while moving. For example, considering travel ti and location, we could recomnd suitable content. For long trips, we could suggest movies or dramas, while for short distances, codies or variety shows might be better. And if you’re traveling, we could show information about the destination.”
While FaceIt is the strongest in the pornography industry, the online video service market is still dominated by giants like Netflix and YouTube.
But now, a new opportunity has opened with car infotainnt.
Ellie added her opinion,
“How about educational content? Many people in Hong Kong and Korea study English while driving. Aricans also want to learn different foreign languages, while immigrants in the U.S. want to learn English.”
I snapped my fingers.
“That’s a very good idea.”
Nothing makes as much money as educational content. One can easily see this by looking at how much Korea spends on private education every year.
“Perhaps the future market size for car infotainnt could surpass that of the pornography industry. Why not give it a try?”
Toby’s eyes sparkled at my words.
“That makes sense. Got it!”
After the two left, Ellie said,
“Isn’t it amazing? There will be so much more that can be done in the car as long as the driver isn’t driving.”
I nodded.
“Things will change even more in the future.”
***
The long schedule in Arica had co to an end.
I waited for the flight back ho with Ellie at San Francisco Airport. Since there was still so ti before departure, we waited in the lounge.
Ellie stretched and said,
“Ahh! I’m finally going back to Korea. I can’t wait to see Jessica and Taekgyu.”
“Right?”
Ellie looked at .
“You don’t look so good. Are you okay?”
I was about to say I was fine, but shook my head instead.
“I’m not really sure.”
My head had been hurting for a while, and I felt uneasy in my stomach. Above all, there was a strange feeling that was hard to describe.
Why is this happening?
Ellie asked with concern.
“If you’re not feeling well, how about going back tomorrow? It wouldn’t hurt to leave a day later.”
That’s true, but…
I forced a smile.
“I’m fine. I’ll feel better soon.”
Just then, the announcent for boarding the plane was made.
As I stood up, sothing flickered in front of my eyes, and it felt like I could hear ringing in my ears.
It felt as if I had experienced this before.
Just like back then…
In that mont, a hologram appeared before .
-San Francisco Earthquake-
“……..”
What is this?
Ellie asked with a puzzled expression.
“What’s wrong, Jinhoo?”
“The damage…”
Boom!
Before I could even scream, the ground beneath us suddenly began to shake.
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